August 2013 – Page 27

Buy Pinoy Exporters Fair starts Aug 15

Economy

Aug 072013

MANILA, Philippines – Locally-made products will be showcased during the Buy Pinoy Exporters Fair (BPEF) to be held at SM Megamall on Aug. 15-18. Marlane Villa-Real, president of the Buy Pinoy Movement Foundation Inc. (BPMFI), said Filipino entrepreneurs and manufacturers will get to promote and sell their products directly to consumers in the biggest BPEF. As BPEF celebrates its 25th edition, the organizer has invited consumers, institutional buyers, and local government officials and employees to participate in the event so they could appreciate first-hand what local entrepreneurship can do to their respective localities. More Filipinos, especially those in the countryside, are encouraged to be entrepreneurs to create additional jobs and thus help reduce poverty in the country. There will be no imported products or imported products camouflaging as locally-made during the fair. For the past 10 years, BPEF has been providing beacons of hope to the poor by showing them tangible proofs of products of Filipino originality, artistry, craftsmanship and industry that has been in ever-growing demand in the world market. BPMFI believes that by creating public awareness through actual exposure with export products that are in demand worldwide, Filipinos through entrepreneurship can have a brighter future if every one works together. Leonor D. Abella, vice president for promotions of the Philippine Exporters Confederation Inc. (Philexport) and trustee of the BPMFI, said apart from job generation, the keys to a sustainable anti-poverty program are skills upgrading, training and continuing practice provided by the small and medium enterprises. Cecilia Ramos, secretary Read More …

Century Properties jumpstarts reg’l expansion with Pampanga proj

Economy

Aug 072013

Century Properties jumpstarts reg’l expansion with Pampanga proj

MANILA, Philippines – High-end developer Century Properties Group Inc. has jumpstarted its bid to gain a foothold in key regions outside Metro Manila. In a disclosure to the stock exchange, Century Properties said it acquired close to eight hectares of property in the city of San Fernando in Pampanga. The strategic location of the property, which was acquired from the House of David Realty and Development Corp., makes it ideal for a mixed-use development with residential, commercial and institutional components, Century Properties said. “This will form part of a city or town center that the company envisions for the area, to position it as a future central business district in the north,” Century Properties said. “We are confident that, similar to how it has masterplanned its projects in Metro Manila, Century Properties will also build a world-class urban center in San Fernando, Pampanga,” said Ladislao David, chairman emeritus of the House of David Group. Century Properties said the Pampanga project will allow the real firm to book P6 billion in sales from the residential portfolio targeting end-users from the middle-income market segment. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The acquisition was backed by a portion of an equity placement offering, the company said. In March, Century Properties, controlled by the Antonio family, raised P1.64 billion by selling shares to foreign investors to support its landbank expansion in Metro Manila and secondary cities. Century Properties said its strategic expansion to the north is guided by the rapid progress Read More …

Meralco eyes P3.6-B add’l revenues

Economy

Aug 072013

MANILA, Philippines – Manila Electric Co. (Meralco), the country’s largest power distributor, expects about P3.6-billion additional revenues from the locators in the 120-hectare Entertainment City project of the Philippine Amusement and Gaming Corp., a company official said. Meralco senior vice-president and head for customer retail services Al Panlilio said upon full operations, more than P300 million per month in gross revenues can be generated from the hotel and resort facilities in the complex. “Approximate numbers of gross revenues of more than P300 million and distribution revenues between P17 million to P23 million per month,” Panlilio said. Meralco estimated that Entertainment City would need about 41.5 gigawatt-hours (gwh) per month from all Pagcor licensees. The Entertainment City operators and their expected monthly power requirements are: Manila Bay Resorts (13 gwh); Resorts World Bayshore (22 gwh); Belle Grande (2.5 gwh); and Solaire Resort and Casino (four gwh). Meralco has already sought approval from the Energy Regulatory Commission (ERC) to build a 2.4-kilometer, 115-kilovolt (kV) substation with two 83 mega-volt amperes power transformers worth P1.15 billion. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “We should have the substation ready by September 2014,” Panlilio said. Without the substation, Meralco said there may be critical loading of existing transformers in the area by 2014 and possibly an overloading by 2015. From January to June this year, Meralco’s consolidated volume of energy sold rose to 16,863 gwh, four percent higher than the volume sold a year ago.

Index barely moves in lackluster trade

Economy

Aug 072013

MANILA, Philippines – Lackluster trading marked the start of the traditional Chinese ghost season, with the main share index barely changing from Tuesday’s close. The Philippine Stock Exchange index (PSEi) was nearly unchanged at 6,420.79, up by just 0.01 point. The broader all shares index inched up 0.03 percent or 1.28 points to 3,923.56. “There is really nothing to drive the market. There is a dearth of news and the interest is not there,” said Astro del Castillo, managing director of First Grade Finance Inc. “August is called ghost month after all given the lackluster trades of the market,” Del Castillo said. Considered unlucky by Chinese, investors hold off from major investment decisions while Western fund managers take advantage of low turnover to enjoy vacation. The bellwether index erased early gains that allowed it to hit an intraday high of 6,450.41. Local shares were immovable, bucking large decline in Asian markets, led by Japanese stocks that suffered from a stronger yen that hurts the export sector. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Japan’s Nikkei 225 sank four percent or 576.12 points to 13,824.94 while Hong Kong’s Hang Seng index declined 334.86 points to 21,588.84. Locally, all counters were in the green, led by mining and oil that recovered 58.37 points to 14,487.01. Holding firms bucked the trend, slipping 0.78 percent or 45.93 points to 5,805.52. Del Castillo said that even benign inflation data and good corporate earnings failed to cheer the market.

What awaits Kapatid Ogie

General

Aug 072013

Ogie Alcasid (center) with TV5 president and CEO Noel Lorenzana and chief entertainment content officer Wilma Galvante at the contract-signing held Tuesday afternoon MANILA, Philippines – Ogie Alcasid has formally joined TV5 family as he signed an exclusive contract last Tuesday with Kapatid Network president and CEO Noel Lorenzana and chief entertainment content officer Wilma Galvante. “I’m very excited to work again,” said Ogie. “That, for a long time…of course, we need to wait for the right time and this day has finally come. I’ve been waiting for this moment so I’m excited.” Ogie’s contract, according to Wilma, is “perpetual.” That being said, does it automatically mean that the singer-songwriter’s three-year binding contract with the network, as stated in the press release, can go beyond the agreed term? “It’s a long-term contract,” confirmed Ogie. “I’m happy that we will be working together again. I was there when he first signed a contract with GMA and now I’m also here when he signed a contract again,” Wilma offered. “Although nag-kahiwalay kami sa trabaho, we always keep in touch naman; hindi kami talaga nagkahiwalay.” Asked about his decision to move to another network, Ogie said, “You know that Mr. Manny Pangilinan is my godfather; ninong ko s’ya sa una kong kasal at ganun din sa pangalawa pero sana wala ng susunod hahaha, so when the offer came sabi ko, ‘Why not?.’ And you know before I made this (decision). I spoke to the management (of GMA) and I’m happy for their blessings.” Read More …

Pacquiao says he can fight up to three more years

Entertainment

Aug 072013

SINGAPORE (AFP) – Philippine boxing icon Manny Pacquiao said Friday that he can fight for another three years despite two successive losses, brushing aside calls for him to retire and focus on his political career. He told journalists at a promotional event in Singapore, for his November 24 bout in Macau with American Brandon Rios, […]

More Pinoys to pay more for goods from 'responsible' companies

Economy

Aug 062013

More Pinoys to pay more for goods from 'responsible' companies

Staff of a Manila supermarket conduct a meeting after work hours. RAJESH INDIA MANILA, Philippines – More Filipinos are willing to pay more for goods and services from companies that have social impact, research firm Nielsen discovered in a survey. Citing its Global Survey on Corporate Social Responsibility, Nielsen said seven of 10 Filipino consumers are willing to pay more for what those “socially responsible” companies offer, increasing by three points from 2011 results on the same survey. “The positive view of Filipino consumers towards corporate social responsibility runs high. In order to continue getting the support of consumers, authenticity is key.,” Nielsen Philippines managing director Stuart Jamieson said in a statement. Jamieson said this means that loyalty to brands they think are giving back to society is relatively strong–a trait more common in Southeast Asia than in Europe. “More than two-thirds of the respondents in the Philippines, Thailand and Indonesia – and three-quarters of respondents in India – say they would pay more for goods and services from socially responsible companies, whereas European respondents are least likely to pay extra,” Nielsen said. About 64 percent of Filipinos, however, are also more likely to say they had spent more on products and services from responsible companies. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Companies can do more to connect with consumers through social projects. To have a stronger engagement with consumers, companies should re-access responsibility, work towards sustainable innovation and develop clear and strong messaging,” Jamieson said, advising Read More …

Decade-long Australia mining boom turns to bust

Economy

Aug 062013

Decade-long Australia mining boom turns to bust

In this photo taken on Thursday, June 13, 2013, a worker stands at Coppabella coal mine, southwest of Mackay city, Queensland state, Australia. Falling coal prices have hastened the closure of some financially marginal mines in the region and shed thousands of jobs. AP MACKAY, Australia — The Australian mining boom built over a decade on Chinese hunger for energy and raw materials is turning into bust for many business owners as China’s cooling growth reverberates through a country accustomed to winning from the rise of an Asian economic giant. Endowed with vast mineral resources, Australia has been the envy of the Western world for avoiding recession during the global financial crisis while other wealthy countries drowned in debt. But the country now faces a potentially painful transition as it weans itself off a heavy reliance on its two biggest exports, coal and iron ore. Australia’s dilemma underscores that China’s long run of supercharged growth has given it enough weight in the world economy to create not only winners, but losers too when its own fortunes change. Trade between Australia and China equaled 7.6 percent of Australia’s $1.5 trillion economy last year, a dramatic threefold increase from a decade earlier, according to an Associated Press analysis of trade data. During that time, mining companies gushed multibillion dollar profits while jobs as mundane as maintenance commanded salaries above $120,000. Now the downside of that tight embrace is being felt across Australia’s mining heartlands and in its bustling cities. The number of Read More …

Warship ‘Monching’ is here; PH to intensify sea patrols

News

Aug 062013

Warship ‘Monching’ is here; PH to intensify sea patrols

By TJ Burgonio, Nikko DizonPhilippine Daily Inquirer 2:13 am | Wednesday, August 7th, 2013 SECOND MAJOR WARSHIP President Aquino, accompanied by AFP Chief of Staff Gen. Emmanuel Bautista, troops the line for the arrival ceremony of the BRP Ramon Alcaraz, a high-endurance Hamilton-class cutter, at the Subic Freeport on Tuesday. The Philippines vowed intensified sea patrols as it welcomed the arrival of its latest warship from the United States amid a maritime row with China. MALACAÑANG PHOTO SUBIC BAY FREEPORT, Philippines—President Aquino on Tuesday called the second Hamilton class-cutter from the United States a big boost to the Navy in patrolling the seas amid a territorial row with China. In the drizzly morning but with a fiesta-like atmosphere, the President, Cabinet members and the military top brass watched from the BRP Ang Pangulo as the 3,250-ton decommissioned warship from the US Coast Guard docked at the port here, after a voyage of two months from the United States. The President said the arrival of the Navy frigate, renamed BRP Ramon Alcaraz, and nicknamed by the Navy “Monching” was proof of the government’s desire to have an Armed Forces capable of defending its people. The first Hamilton class-cutter, BRP Gregorio del Pilar, has made patrolling the seas more extensive and faster, and the arrival of the BRP Ramon Alcaraz will further enhance this, Aquino said. Overcome bad elements “Now that the BRP Ramon Alcaraz is here, we’re certain that this would intensify the patrol of the Philippine Economic Zone as well Read More …

Infinity Tower row

Economy

Aug 062013

In my last column, I mentioned about this raging controversy at the Infinity Tower condominium involving two groups claiming control over a company that owns units at said condominium. Last July 29, Optimax International Corp., headed by Joaquin Rodriguez Jr., filed a manifestation with a motion to dismiss the case filed by one Martin Nicolo de los Angeles against Quadrillion Property Development Corp. According to Optimax, the case is a deliberate attempt by Byucksan Engineering, Seokwan Hahn, Oliver Bonus, delos Angeles, and their alleged dummy entities namely Archinet International, Greenstone Serviced Residences Makati, the Mendozas, to circumvent the rules against forum shopping and intended to violate an existing preliminary injunction issued by the Makati RTC Branch 66. Optimax owns 60 percent of Beccomax Property and Development Corp. while the rest is owned by Byucksan. Beccomax owns condo units at Infinity Tower. Last April 11, Optimax was able to secure a writ of preliminary injunction from RTC Branch 66, in which order the court enjoined Greenstone Serviced Residences, its president Oliver Bonus, and/or Seokwan Han to turn over the equipments, computer cards/keys, and locks to Quadrillion, and for respondents to stop interfering in the management of the building, the units, parking lot, and bookings on the property being managed by Quadrillion. According to Optimax, the order placed Quadrillion Property Management as the lawful property manager of Infinity Tower and all units of Beccomax until final resolution of the case. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 On July 25, Read More …

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